Metallum Resources increases proposed non-brokered private placement financing to $5.2 million

2022-07-15 18:44:46 By : Ms. Amiee Zhang

April 4, 2022 TheNewswire - V ancouver, British Columbia: Metallum Resources Inc. (TSXV:MZN) is pleased to announce that its previously announced non-brokered private placement has been oversubscribed and, subject to TSX Venture Exchange approval, has been increased to 86.67 million units at $0.06 each, to raise gross proceeds of up to $5.2 million. Each unit consists of one common share of the Company and one warrant which will entitle the holder to purchase one additional common share at $0.14 for two years from closing.

CPS Capital Group Pty Ltd is acting as a finder in the placement. Funds raised from the financing are intended to be used for general working capital, and to accelerate the development of the Company's Superior Lake zinc and copper project, the highest grade zinc project in North America (see press release dated Oct 14, 2021 ).

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States or in any other jurisdiction.  The securities referred to in this press release have not been and will not be registered under the U.S. Securities Act and may not be offered or sold without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an exemption from such registration.

Metallum Resources (TSXV:MZN) is developing its Superior Lake Zinc and Copper Project located in Ontario, Canada which has been advanced to the feasibility stage. For more information on the project please visit metallumzinc.com .

Metallum is a member of the Gold Group of companies, led by Simon Ridgway.  For further details about the Company and the Superior Project, please visit the Company's website at metallumzinc.com .

ON BEHALF OF THE BOARD

President & Chief Executive Officer

Kerem Usenmez, President & CEO

Tel: 604-688-5288;  Fax: 604-682-1514

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the proposed financing. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether the financing will be completed as planned; whether exploration and development of the Company's properties will proceed as planned; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; risks associated with COVID-19 including adverse impacts on the world economy, exploration efforts and the availability of personnel; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the financing will be completed as planned; that the Company's stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.

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Metallum and Pays Plat First Nation ("PPFN") have signed a Negotiation Agreement (the "Agreement") to advance the development of the Superior Lake Zinc Project

This Agreement outlines the negotiating terms for the Impact Benefit Agreement ("IBA") which is the final agreement required before mine development commences

The Company and PPFN aim to finalize the IBA during 2H2022

Vancouver, BC – TheNewswire – June 14, 2022 - Metallum Resources Inc. (TSXV:MZN) ("Metallum" or the "Company") and Pays Plat First Nation ("PPFN") are proud to announce the signing of a Negotiation Agreement (the "Agreement") for the Superior Lake Zinc Project ("Project") in Ontario, Canada .

PPFN is the primary First Nation Group where the Project is located. The signing of this Agreement with PPFN is a major milestone, as it progresses regulatory approval for early-stage development works, and more importantly, outlines the timeline and key terms for the Impact Benefit Agreement ("IBA").  Both the Company and PPFN aim to have an IBA agreed and signed later this year. The IBA is a formal, written agreement that helps to manage the predicted impacts associated with an industrial development occurring on traditional lands and to secure economic benefits for neighbouring aboriginal communities affected by that development.

In addition, both the Company and PPNF jointly met with The Honourable Patty Hadju, Minister of Indigenous Services of Canada and Member of the Parliament for Thunder Bay North (the Project's jurisdiction), to discuss the Project development, indigenous involvement, and current Permitting Process.  The Company will continue to keep the market updated as these discussions progress.

Click Image To View Full Size

Image 1:  The Honourable Patty Hadju, PPFN Chief Mushquash and Metallum's CEO Kerem Usenmez

President and CEO, Kerem Usenmez commented , " Metallum has built a strong relationship with the PPFN and the local communities over the past year, and signing this Agreement solidifies the support and our collaboration to move our exciting Project forward.

We very much value the support of PPFN for the development of the Superior Lake Project. We are proud to be partners with the PPFN and look forward to ongoing collaboration as we move development in the future."

Pays Plat First Nation Chief Mushquash commented , " This Negotiation Agreement sets a strong foundation for us to work collectively with Metallum on a number of economic opportunities. We look forward to the advancement of this Agreement into an IBA stage as the Project develops."

Metallum also continues to work closely with the town of Schreiber, which is located 29 kilometers from the Project.  The Company met with the Mayor, Kevin Mullins, as well as Municipality Staff to discuss the Project status.

Schreiber Mayor Kevin Mullins commented, " We have the skilled labour, railway station and most of the supporting infrastructure very close to the Project. We are very excited about the future development of the Superior Lake Project and will support Metallum to advance this Project into production."

President and CEO, Kerem Usenmez commented , "Having local support is crucial for any development Project. The local support has been very strong and encouraging for us. We look forward to working together with all the local communities and advancing quickly."

Click Image To View Full Size

Image 2: Metallum CEO Kerem Usenmez with Schreiber Mayor Kevin Mullins and Nathan Dias, from City of Schreiber Mayor's office

ON BEHALF OF THE BOARD

Kerem Usenmez, President & CEO

Tel: 604-688-5288;  Fax: 604-682-1514

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the Feasibility Study, the updated economics for the Project, and the Company's development plans for the Project. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, the uncertainties inherent in the Feasibility Study and the updated economics of the Project; whether exploration and development of the Company's properties will proceed as planned; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; risks associated with COVID-19 including adverse impacts on the world economy, exploration and development efforts and the availability of personnel; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: the accuracy of the Feasibility Study and the updated economics of the Project; that the Company's stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.

Metallum Resources (MZN.TSXV) owns 100% of the Superior Lake Zinc and Copper Project in Ontario, Canada.  The Project ranks as the highest grade zinc project in North America with a resource of 2.35 Mt at 17.9% Zn, 0.9% Cu, 0.4 g/t Au and 34 g/t Ag.

The Company completed a positive Feasibility Study that highlights the Project will rank in the lowest quartile of operating costs (C1 costs – C$0.44 / lb; AISC C$0.51 / lb).  These low costs driven by the high grade of the Project drive robust economic returns. The majority of permits and licenses are in place allowing for a quick re-development following a Final investment Decision.

For further details about the Company and the Superior Project, please visit the Company's website at metallumzinc.com .

Copyright (c) 2022 TheNewswire - All rights reserved.

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Metallum Resources Inc. (TSXV: MZN) (OTCQB: MTLLF is developing a high-grade zinccopper project in Ontario. BTV chats with President & CEO, Kerem Usenmez to learn more.

Metallum Resources Inc.(TSXV: MZN) (OTCQB: MTLLF)

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Discussions with multiple global metal traders and smelters have commenced regarding future offtake for the zinc and copper concentrates to be produced at the Superior Lake Project

Forecasted annual production of 69,819t of Zn and 5,308t of Cu concentrate per annum.

Both the zinc and copper concentrates are of a high quality with favorable grades and minimal deleterious elements (Table 1 and Table 2)

The Project has established transportation routes to North American and international smelters, giving the Project its unique location 30km from an operating rail terminal (Image 1)

The market outlook for zinc is strong, due to declining production from existing primary zinc mines, and increased forecasts on long-term demand driven by decarbonization

May 31, 2022 – TheNewswire - Metallum Resources Inc. (TSXV:MZN) ( "Metallum" or the "Company") is pleased to announce the commencement of discussions with multiple global metal traders regarding future offtake from the Company's Superior Lake Zinc and Copper Project ("Project") in Ontario, Canada.

Preliminary discussions with a number of these groups have indicated a willingness to have offtake linked to additional funding solutions. An offtake related financing is typically in the form of mezzanine debt or concentrate pre-payments.

Click Image To View Full Size

Image 1: Location of Zinc smelter in north America and transportation routes

The concentrate produced at Superior Lake can access smelters using existing rail and road infrastructure to North American smelters as well as smelters in Asia, using the Vancouver port. The Thunder Bay port, which is located 214km from the mine gate, will provide access to smelters in Europe. The Project's unique location and access to the Canadian rail and highway network will provide access to Canadian port systems, both East and West coasts, allowing easy access to major smelters around the globe.

Both the Zinc and Copper concentrates are well understood given the Project successfully operated for a decade before closing in 1998 due to sustained low zinc prices. This historical production as well as additional metallurgical test work carried out by SGS Lakefield in Canada (Superior Zinc and Copper Project Feasibility Study N.I. 43-101 compatible, DRA – October 2021), provides detailed information and certainty to these groups. Detailed information regarding the concentrate grades and quality can be found in Table 1 below.

Table 1: Historical Winston Lake Detailed Zinc Concentrate Specifications

Table 1: Historical Winston Lake Detailed Copper Concentrate Specifications

The news release has been reviewed and approved by Andrew Tims, P.Geo., Exploration Manager of the Company, and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects .

ON BEHALF OF THE BOARD

Kerem Usenmez, President & CEO

Tel: 604-688-5288;  Fax: 604-682-1514

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the estimated economics of the Project, potential offtake related financing, and the Company's development plans for the Project. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, the uncertainties inherent in the estimated economics of the Project, and whether the Company will arrange any offtake related financing; whether exploration and development of the Company's properties will proceed as planned; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; risks associated with COVID-19 including adverse impacts on the world economy, exploration and development efforts and the availability of personnel; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: the accuracy of the estimated economics of the Project; that the Company will arrange offtake related financing; that the Company's stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.

Metallum Resources (MZN.TSXV ) owns 100% of the Superior Lake Zinc and Copper Project in Ontario, Canada.  The Project ranks as the highest-grade zinc project in North America with a resource of 2.35 Mt at 17.9% Zn, 0.9% Cu, 0.4 g/t Au and 34 g/t Ag.

The Company completed a positive Feasibility Study that highlights the Project will rank in the lowest quartile of operating costs (C1 costs – C$0.44 / lb; AISC C$0.51 / lb).  These low costs driven by the high grade of the Project drive robust economic returns. The majority of permits and licenses are in place allowing for a quick re-development following a Final investment Decision.

For further details about the Company and the Superior Project, please visit the Company's website at metallumzinc.com .

Click Image To View Full Size

Copyright (c) 2022 TheNewswire - All rights reserved.

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Updated assumptions from the NI 43-101 Feasibility Study have increased the Project's Pre-tax NPV to C$383.1m (previously - C$175.8m) and Post-tax NPV to C$287m (previously - $126.3m)

The average EBITDA over the mine life increased to C$102m per annum (previously $67.6m); peaking at C$168m during the fourth year of production

The Zinc price has increased substantially since the October 2021 Feasibility Study .  The fundamentals for sustained higher prices continue to strengthen due to multiple factors, including zinc's importance in the renewable energy industry

The Company is fully funded until a Final Investment Decision (FID) following the recent C$5.2m capital raising

May 17, 2022 – TheNewswire - Metallum Resources Inc. (TSXV:MZN) ( "Metallum" or the "Company") is pleased to announce updated economics for its Superior Lake Zinc and Copper Project ("Project") in Ontario, Canada.  Based on updated assumptions 1 , the Project's NPV 8 Pre-tax has increased to C$383m (previously - C$175.8m) whilst the average EBITDA 3 has increased to C$102m per annum (previously C$67.6m).  Image 1 illustrates the Project's Pre and Post tax NPV 8% returns based on a number of zinc price scenarios.

Image 1: NPV 8 under a range of different zinc price assumptions 1,2,4

Click Image To View Full Size

The significant improvement in prices for the suite of commodities produced at the Project (zinc, copper, silver and gold), has driven the Project's improved returns compared to the Feasibility Study (Table 1 below).  Whilst zinc, the major commodity produced at the Project, price has slightly fallen from its recent a 15-year high (US$2.05 / lb) achieved during April 2022, the fundamentals for the sector are extremely positive due to limited new supply, whilst a significant increase in demand, largely driven by the importance of zinc in multiple renewable energy industry (EV (electric vehicles), solar power generation and wind energy).

1 - Updated commodity prices: Zn: US$1.65/lb, Cu: US$4.22/lb, Au: US$ 1,845/oz, Ag: US$21.6/oz ; 2 -  8% discounted NPV pre-tax; 3 -  Life of mine average EBITDA. Total project EBITDA is $870m; 4 The Feasibility Study was conducted using a Zinc price of US$1.22/lb (US$2,700/t), Copper Price of US$3.31/lb (US$7,300/t), Silver Price of US$21.00/oz, and Gold price of US$1,635/oz.

Image 2: Forecasted zinc demand used on renewables industry 5

Click Image To View Full Size

5 - Source: CRU, IRENA, Teck

Given the strengthening market fundamentals for the Project, the Company is advancing the Project through a number of critical steps prior to making a Final Investment Decision (FID) in the future.  Updates on these initiatives will be released as work is advanced.

The Company is in an excellent financial position following the recent C$5.2m capital raising that sees the Company fully funded until an FID is made.  A summary of the key inputs and outputs in the Feasibility Study and updated returns are highlighted below.

Table 1: Updated Feasibility Assumptions and Outputs

1 - Updated commodity prices: Zn: US$1.65/lb, Cu: US$4.22/lb, Au: US$ 1,845/oz, Ag: US$21.6/oz ;

2 - The Feasibility Study was conducted using a Zinc price of US$1.22/lb (US$2,700/t), Copper Price of US$3.31/lb (US$7,300/t), Silver Price of US$21.00/oz, and Gold price of US$1,635/oz.

The Feasibility Study dated effective October 13, 2021 was prepared by DRA Global Limited, along with contributions from other prominent engineering companies. The detailed technical report is available on SEDAR under the Company's profile. The technical report is also available on Metallum's website at metallumzinc.com.

The news release has been reviewed and approved by Andrew Tims, P.Geo., Exploration Manager of the Company, and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects .

ON BEHALF OF THE BOARD

Kerem Usenmez, President & CEO

Tel: 604-688-5288;  Fax: 604-682-1514

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the Feasibility Study, the updated economics of the Project, and the Company's development plans for the Project. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, the uncertainties inherent in the Feasibility Study and the updated economics of the Project; whether exploration and development of the Company's properties will proceed as planned; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; risks associated with COVID-19 including adverse impacts on the world economy, exploration and development efforts and the availability of personnel; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: the accuracy of the Feasibility Study and the updated economics of the Project; that the Company's stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.

Metallum Resources (MZN.TSXV) owns 100% of the Superior Lake Zinc and Copper Project in Ontario, Canada.  The Project ranks as the highest grade zinc project in North America with a resource of 2.35 Mt at 17.9% Zn, 0.9% Cu, 0.4 g/t Au and 34 g/t Ag.

The Company completed a positive Feasibility Study that highlights the Project will rank in the lowest quartile of operating costs (C1 costs – C$0.44 / lb; AISC C$0.51 / lb).  These low costs driven by the high grade of the Project drive robust economic returns. The majority of permits and licenses are in place allowing for a quick re-development following a Final investment Decision.

For further details about the Company and the Superior Project, please visit the Company's website at metallumzinc.com .

Copyright (c) 2022 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

April 21, 2022 TheNewswire - Vancouver, British Columbia: Metallum Resources Inc. (TSXV:MZN) is pleased to report that it has closed its previously announced non-brokered private placement with the issuance of 87,371,674 units at $0.06 each, for gross proceeds of $5,242,300.  Each unit consists of one common share of the Company and one warrant which entitles the holder to purchase one additional common share at $0.14 for two years from closing.

In connection with the financing, the Company paid finder's fees totaling $245,400 cash and issued a total of 4,090,000 warrants which have the same terms as described above.  All common shares and warrants issued on closing are subject to a resale restriction until August 22, 2022.

As a result of participation in the placement by insiders of the Company, the placement is considered to be a "related party transaction" within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101"). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101.

Funds raised from the financing are intended to be used for general working capital, and to accelerate the development of the Company's Superior Lake Zinc and Copper Project.

Adam Kiley has been appointed a Director of the Company, in the place of David Cass who has stepped down from the Board.

Adam Kiley has over 18 years' experience in the mining sector with a depth of experience in providing corporate and financial advisory services.  Adam holds a Bachelor of Commerce from Curtin University in Western Australia. He is also currently a corporate development executive with Lotus Resources Limited (ASX:LOT) and Frontier Energy (ASX:FTE).

Kerem Usenmez, President and CEO, commented: "I am very pleased in closing this over-subscribed financing, as we continue to develop our high-grade Zinc and Copper project. This new capital will keep the development of our project on schedule. We are excited to be in a position to continue advancing the Superior Lake Project and committed to providing materials for the green future and a sustainable economy, in line with Ontario's recently announced Critical Minerals Strategy. This project has two of the critical minerals recognized by Canada and the United States, at a very high grade. We look forward to an incredibly promising future in Ontario as we continue to rapidly move into development. The project location and the existing infrastructure, along with access to clean energy, proximity to state of the art logistics, and a motivated and skilled workforce make this an exciting project, with the right timing, as we see commodities becoming more and more in demand. I also thank David for his invaluable contributions to the Company thus far, and welcome Adam to the Board as we move our company and the Project into this advanced stage."

Simon Ridgway, Chairman of the Board, commented: "We would like to thank both existing and new shareholders for the strong support they provided in the recent capital raising.  We are now in an exceptional strong position to advance our Superior Lake Zinc Project, one of the highest grade zinc projects globally, at a time when the zinc price is near all time record highs.

I would also like to acknowledge my appreciation for the many years of service David has provided to Metallum, including his contributions to the Board.  We wish him well .  We welcome Adam Kiley to the Metallum Board and look forward to benefitting from his extensive corporate development experience."

Metallum Resources (TSXV:MZN) is developing its Superior Lake Zinc and Copper Project located in Ontario, Canada which has been advanced to the feasibility stage. For more information on the project please visit metallumzinc.com .

Metallum is a member of the Gold Group of companies, led by Simon Ridgway.  For further details about the Company and the Superior Project, please visit the Company's website at metallumzinc.com .

ON BEHALF OF THE BOARD

President & Chief Executive Officer

Kerem Usenmez, President & CEO

Tel: 604-688-5288;  Fax: 604-682-1514

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements and include, without limitation, statements about the use of the financing proceeds. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether the financing proceeds will be spent as planned; whether exploration and development of the Company's properties will proceed as planned; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; risks associated with COVID-19 including adverse impacts on the world economy, exploration efforts and the availability of personnel; and such other risks detailed from time to time in the Company's quarterly and annual filings with securities regulators and available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the financing proceeds will be spent as planned; that the Company's stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.

Copyright (c) 2022 TheNewswire - All rights reserved.

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Trevali Mining Corporation ("Trevali" or the "Company") (TSX: TV) (BVL: TV) (OTCQX: TREVF) ( Frankfurt : 4TI) is pleased to announce that the operating and financial results for the second quarter ended June 30, 2022 will be released on Monday, August 8, 2022 before the Toronto Stock Exchange market open.

Q2-2022 Financial and Operational Results Conference Call and Webcast

The Company will host a conference call and webcast presentation at 1:00 PM Eastern Time ( 10:00 AM Pacific Time ) on Monday, August 8, 2022 to review the operating and financial results. Participants are advised to dial-in five minutes prior to the scheduled start time of the call. A presentation will be made available on the Company's website prior to the conference call.

Date: Monday, August 8, 2022 at 1:00 PM Eastern Time Toll-free ( North America ): +1 (888) 886-7786 International: +1 (416) 764-8658 Conference ID 80735055 Webcast: https://www.gowebcasting.com/11979

Trevali is a global base-metals mining Company headquartered in Vancouver, Canada . The bulk of Trevali's revenue is generated from zinc and lead concentrate production at its three operational assets: the 90%-owned Perkoa Mine in Burkina Faso , the 90%-owned Rosh Pinah Mine in Namibia , and the wholly owned Caribou Mine in northern New Brunswick, Canada . In addition, Trevali owns the Halfmile and Stratmat Properties and the Restigouche Deposit in New Brunswick, Canada . Trevali also owns an effective 44% interest in the Gergarub Project in Namibia . The Company's growth strategy is focused on the exploration, development, operation, and optimization of properties within its portfolio, as well as other mineral assets it may acquire that fit its strategic criteria. Trevali's vision is to be a responsible, top-tier operator of long-life, low-cost mines in stable pro-mining jurisdictions. Trevali is committed to socially responsible mining, working safely, ethically, and with integrity. Integrating responsible practices into its management systems, standards, and decision-making processes is essential to ensuring everyone and every community's long-term sustainability.

The shares of Trevali are listed on the TSX (symbol TV), the OTCQX (symbol TREVF), the Lima Stock Exchange (symbol TV), and the Frankfurt Exchange (symbol 4TI). For further details on Trevali, readers are referred to the Company's website ( www.trevali.com ) and to Canadian regulatory filings on SEDAR at www.sedar.com .

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Trevali Mining Corporation ("Trevali" or the "Company") (TSX: TV) (BVL: TV) (OTCQX: TREVF) ( Frankfurt : 4TI) announces the voting results from its Annual General and Special Meeting of Shareholders (the " Meeting ") held on June 29, 2022 . Shareholders voted in favour of all items of business before the Meeting as follows:

To re-appoint PricewaterhouseCoopers LLP as Auditors of the Company for the ensuing year and to    authorize the directors to fix their remuneration.

To approve and authorize all unallocated stock options, rights and other entitlements issuable under the Company's amended and restated stock option plan (the "Stock Option Plan") until June 29, 2025.

To approve and authorize all unallocated share units, rights and other entitlements issuable under the Company's amended and restated share unit plan (the "Share Unit Plan") and to confirm the Company has the ability to issue shares from treasury to satisfy the settlement of any unallocated share units issued until June 29, 2025.

Advisory Vote on Executive Compensation

To adopt a non-binding, advisory vote on the Company's approach to executive compensation.

Detailed voting results for the Meeting are available on SEDAR at www.sedar.com .

The Company's 2021 Audited Financial Statements are available at https://trevali.com/investors/financials/. Shareholders may also receive a copy of these Company documents without charge upon request by e-mail at info@trevali.com .

Trevali is a global base-metals mining Company headquartered in Vancouver, Canada . The bulk of Trevali's revenue is generated from zinc and lead concentrate production at its three operational assets: the 90%-owned Perkoa Mine in Burkina Faso , the 90%-owned Rosh Pinah Mine in Namibia , and the wholly owned Caribou Mine in northern New Brunswick, Canada . In addition, Trevali owns the Halfmile and Stratmat Properties and the Restigouche Deposit in New Brunswick, Canada . Trevali also owns an effective 44% interest in the Gergarub Project in Namibia . The Company's growth strategy is focused on the exploration, development, operation, and optimization of properties within its portfolio, as well as other mineral assets it may acquire that fit its strategic criteria. Trevali's vision is to be a responsible, top-tier operator of long-life, low-cost mines in stable pro-mining jurisdictions. Trevali is committed to socially responsible mining, working safely, ethically, and with integrity. Integrating responsible practices into its management systems, standards, and decision-making processes is essential to ensuring everyone and every community's long-term sustainability.

The shares of Trevali are listed on the TSX (symbol TV), the OTCQX (symbol TREVF), the Lima Stock Exchange (symbol TV), and the Frankfurt Exchange (symbol 4TI). For further details on Trevali, readers are referred to the Company's website ( www.trevali.com ) and to Canadian regulatory filings on SEDAR at www.sedar.com .

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Tinka Resources Limited ("Tinka" or the "Company") (TSXV & BVL:TK) (OTCQB:TKRFF) announces that pursuant to the Company's Stock Option Plan, the Company has granted stock options (the "Options") to certain directors, officers and consultants of the Company to purchase an aggregate of 5,750,000 common shares (the "Optioned Shares") of the Company at an exercise price of $0.25 per Optioned Share for a period of four years

On behalf of the Board,

Dr. Graham Carman, President & CEO

Further Information: www.tinkaresources.com

Mariana Bermudez 1.604.685.9316 info@tinkaresources.com

Tinka is an exploration and development company with its flagship property being the 100%-owned Ayawilca zinc-silver-tin project in central Peru. The Zinc Zone deposit has an estimated Indicated Mineral Resource of 19.0 Mt @ 7.15% Zn, 16.8 g/t Ag & 0.2% Pb and Inferred Mineral Resource of 47.9 Mt @ 5.4% Zn, 20.0 g/t Ag & 0.4% Pb (dated August 30, 2021 - see news release). The Ayawilca Tin Zone has an estimated Inferred Mineral Resource of 8.4 Mt grading 1.0% Sn. Tinka holds 46,000 hectares of mining claims in Central Peru, one of the largest holders of mining claims in the belt. Tinka is actively exploring for copper-gold skarn mineral deposits at its 100%-owned Silvia project. The Qualified Person, Dr. Graham Carman, Tinka's President and CEO, and a Fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the technical contents of this release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release

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Trevali Mining Corporation ("Trevali" or the "Company") (TSX: TV) (BVL: TV) (OTCQX: TREVF) ( Frankfurt : 4TI) announces that it has published its 2021 Sustainability Report that details our approach and progress towards integrating sustainability into all aspects of our business.

"Trevali's fourth annual Sustainability Report represents the latest stage of an evolution in our reporting as we make steps on our journey to becoming a more sustainable organization," said Ricus Grimbeek, President CEO. "While the report details some of our accomplishments in 2021, I must first acknowledge the terrible loss of eight of our colleagues at the Perkoa Mine in Burkina Faso . The intense and unseasonal rainfall on the early morning of April 16, 2022 , created a flash flood that breached the mine's defenses, flooding the underground mine and fatally trapping eight of our workers. Our most sincere condolences are with the families, friends, and communities of our deceased colleagues at this difficult time. All of us at Trevali grieve their loss. We will never get our colleagues back, but we do pledge to learn and implement all the lessons from this tragedy across our operations, share these widely, and thereby play our part in helping the mining industry to avoid such events in the future. The potential impact of a changing global climate on the design and operation of mines cannot be underestimated. Extreme weather events such as this, occurring outside of the usual wet seasons, are devastating and it appears likely that they are to become more frequent."

"At Trevali, we see the annual sustainability reporting process as achieving two key objectives. Firstly, as a communication tool to report 2021's ESG performance to our stakeholders transparently and accurately in a balanced manner. And secondly, as an audit of our ESG programs and systems in relation to our business goals, using a third-party to pre-audit our ESG activities. In our 2021 report, you will read about our achievements, challenges, and our progress towards our goals as the world still wrestled with the COVID pandemic. In doing so, I hope that you will see how central sustainability is to not only our business model but to the whole mining industry. Integrating sustainability into every fiber of the global industry is not going to be easy, but Trevali is committed to playing its part in this vital strategic endeavour," said Grimbeek.

Richard Weishaupt , Senior Vice President, Health, Safety, Environment, and Community, stated, "In the 2021 Sustainability Report there are many examples of how we have progressed as a Company. "Regarding environmental compliance, I am happy to report that once again in 2021, Trevali received no material environmental penalties or fines at any of our operations. In addition, something that demonstrates conservation of resources having a positive impact on the environment as well as contributing to economic efficiencies, 100% of total waste rock generated at our operations was returned underground and repurposed as backfill. The dedication of our teams over the long run is also evident at the Perkoa Mine, where the group received the National Occupational Health Inspection Award for operating the second-best private occupational health clinic in Burkina Faso and recognition from the National Council for our efforts in supporting the fight against HIV and AIDS. Such achievements reflect our long-standing commitment to the communities where we operate. In 2021, we invested more than $10.5 million in community development projects across all our operations. The future offers even more chances to innovate with the planned expansion of Rosh Pinah and the construction of a nearby solar power plant to provide 30% of electricity needs."

The report was prepared with guidance from the Global Reporting Initiative (GRI) Standards and select disclosures in accordance with the Sustainability Standards Accounting Board (SASB) Metals and Mining Industry Standards, covering the period from January 1 to December 31, 2021 . Additionally, we have mapped our areas of focus to the United Nations Sustainable Development Goals (SDGs). We are committed to the Task Force for Climate Financial Disclosure (TCFD) and will be progressing on the TCFD recommendations in 2022. Trevali's 2021 Sustainability Report, as well as the GRI and SASB Indices for the report, can be found under the Sustainability Reporting section of Trevali's website at Click Here .

Trevali welcomes comments, questions, or suggestions about the sustainability report and related information. Please send your feedback to sustainability@trevali.com .

Trevali is a global base-metals mining Company headquartered in Vancouver, Canada . The bulk of Trevali's revenue is generated from zinc and lead concentrate production at its three operational assets: the 90%-owned Perkoa Mine in Burkina Faso , the 90%-owned Rosh Pinah Mine in Namibia , and the wholly owned Caribou Mine in northern New Brunswick, Canada . In addition, Trevali owns the Halfmile and Stratmat Properties and the Restigouche Deposit in New Brunswick, Canada . Trevali also owns an effective 44% interest in the Gergarub Project in Namibia . The Company's growth strategy is focused on the exploration, development, operation, and optimization of properties within its portfolio, as well as other mineral assets it may acquire that fit its strategic criteria. Trevali's vision is to be a responsible, top-tier operator of long-life, low-cost mines in stable pro-mining jurisdictions. Trevali is committed to socially responsible mining, working safely, ethically, and with integrity. Integrating responsible practices into its management systems, standards, and decision-making processes is essential to ensuring everyone and every community's long-term sustainability.

The shares of Trevali are listed on the TSX (symbol TV), the OTCQX (symbol TREVF), the Lima Stock Exchange (symbol TV), and the Frankfurt Exchange (symbol 4TI). For further details on Trevali, readers are referred to the Company's website ( www.trevali.com ) and to Canadian regulatory filings on SEDAR at www.sedar.com .

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"). Forward-looking statements are based on the beliefs, expectations and opinions of management of the Company as of the date the statement are published, and the Company assumes no obligation to update any forward-looking statement, except as required by law. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects", "outlook", "guidance", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. Forward-looking statements relate to future events or future performance and reflect management's expectations or beliefs regarding future events including, but not limited to, statements with respect to the Company's operations, including the Company's growth strategies and planned development activities and achievement of the objectives stated in the 2021 sustainability report, the suspension of mining and milling operations at Perkoa, the results of any investigation of the flooding incident, and the Company's assessment of the effect of the flooding on the safety and structural integrity of Perkoa's underground areas and the length of time before underground mining operations can be recommenced safely at Perkoa. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to the Company's plans to remedy the impact of the flooding at the Perkoa Mine, including that such efforts and plans will not be effective or achieve their desired outcomes; dependence on key personnel; labour pool constraints; labour disputes; increased operating and capital costs; foreign currency exchange rate fluctuations; operating in foreign jurisdictions with risk of changes to governmental regulation; compliance with governmental regulations; compliance with environmental laws and regulations; maintaining ongoing social license to operate; impact of climatic conditions on the Company's mining operations; limitations inherent in our insurance coverage; litigation; and other risks of the mining industry including, without limitation, other risks and uncertainties that are more fully described in the Company's annual information form, interim and annual audited consolidated financial statements and management's discussion and analysis of those statements, all of which are filed and available for review under the Company's profile on SEDAR at www.sedar.com . Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Trevali provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events may differ from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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Zinc reigns as a highly essential metal in today’s global economy. From electric vehicles to critical infrastructure, zinc is the fourth most widely consumed metal in the world.

The rising demand for modern infrastructure development around the world has the potential to drive zinc production and new exploration projects. In China, the world’s leader in zinc production, the resource has become critical to the country’s ambitious infrastructure projects like the Belt and Road Initiative.

As nations continue to modernize through advancements in infrastructure, explorers have continued to seek out new zinc deposits. In Europe, Spain’s mineral-rich southern region is attracting mineral companies wishing to explore for zinc resources in a stable mining jurisdiction.

Zinc is an important ingredient in the manufacturing of many everyday materials, from rubber and paints to cosmetics and pharmaceuticals. Alloyed to copper and other metals, zinc is found in electrical components and household fixtures. The silvery-white metal’s strong anti-corrosive properties and ability to bond well with other metals makes it an essential component for galvanized steel, which is why half of all global zinc consumption is used in the production of vehicles and critical infrastructure. Not surprisingly, the long-term outlook for zinc is strongly tied to infrastructure demand. According to the World Economic Forum in 2019, global investment in infrastructure is expected to reach US$79 trillion by 2040.

While Asian economies such as China and India have witnessed the most infrastructure growth in recent years, Europe’s construction industry is expected to pick up in the near-term, according to Research and Markets analysts. “Electricity and power infrastructure will be one of the fastest sectors in Europe as countries across Europe reaffirmed their commitment to advance the implementation of the Paris Agreement and intensify their cooperation on climate change and clean energy. Railway infrastructure will also positively affect the forecast.

Additionally, the leaders of G7 countries at the 2022 G7 Summit pledged to invest US$600 billion for infrastructure development in developing nations over five years.

One of Europe’s largest zinc smelters, and in fact one of the largest zinc smelters in the world, is the San Juan de Neiva smelter in Spain. Located on the northern coast of Spain, the smelter is operated by Glencore (LSE:GLEN,OTC Pink:GLCNF) subsidiary Asturiana de Zinc and has an annual production capacity of 550,000 metric tons of the metal.

Spain is one of the most mineral-rich countries in western Europe, especially in the south where the Iberian pyrite belt has given rise to one of the largest concentrations of volcanic-hosted massive sulfide (VMS) deposits on the planet. VMS deposits are known to be long-term producers containing sizeable amounts of copper, zinc, gold and silver. The region hosts many supergiant deposits including the Rio Tinto VMS deposit, which gave rise to mining giant Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO). Spain is also home to the Aguas Tenidas copper-lead-zinc mine, one of the largest base metals projects in Europe. Brought into production by Iberian Minerals, the mine was purchased by Trafigura Group in 2012.

“Spain is one of the best mining jurisdictions in Western Europe. The rich geology of the southern region of Spain has given rise to more than 1,000 known mineral deposits. The country’s transparent mining policies, fiscal incentives to promote mining and exploration, well-developed infrastructure and skilled workforce have attracted a new wave of international mineral exploration companies in recent years,” Norman Brewster, CEO of Merida Minerals (TSXV:ESPN), told the Investing News Network. A professional geologist and veteran mining industry exec, Brewster was one of the founders of Iberian Minerals and was instrumental in bringing the Aguas Tenidas mine into production.

Merida Minerals is developing the Puebla de la Reina (PBR) project in the historic mining district of Extremadura in Southern Spain. First discovered by Spain’s National Institute of Mining and Geology in 1981, the PBR project hosts a copper-zinc-lead VMS deposit with an extensive historical exploration database generated by global stainless steel producer Outokumpu between 1999 and 2001 that includes a historic resource base.

“Merida believes that current commodity supply, metal prices, grade and technological advances since the 1990s make PBR an attractive exploration and development project,” Brewster said. "We plan to leverage this historical database as we further develop the PBR project."

The potential for discovery in Spain has attracted several other players to Southern Spain and its Iberian pyrite belt. Pan Global Resources (TSXV:PGZ) is similarly targeting copper, zinc and gold at its Escacena VMS project along the belt. The property hosts two large gravity anomalies, including the La Romana massive sulfide copper deposit and the Cañada Honda gravity target, which hosts a large lead and zinc anomaly.

Additionally, Emerita Resources (TSXV:EMO,OTCQB:EMOTF) is developing its Iberian Belt West project, which hosts two high-grade VMS zinc-copper-lead-silver deposits at surface to shallow depths: La Infata and Romanera. The project has been the focus of an active drill campaign in 2022. Denarius Metals’ (TSXV:DSLV,OTCQB:DNRSF) flagship Lomero-Poyatos project is also located in Spain’s Iberian pyrite belt. Drill work on the property continues to confirm high-grade gold as well as high-grade polymetallic mineralization including lead, copper and zinc.

Zinc’s necessary role in the development of the world’s infrastructure projects has easily made it one of the most important metals in the commodities markets. China’s ambitious infrastructure goals are expected to require significant amounts of zinc, which could put pressure on global sources of supply. Based on its history as a productive mining jurisdiction, Spain’s Iberian pyrite belt region has the potential to supply zinc to infrastructure projects within Europe and around the world.

This INNSpired article is sponsored by Merida Minerals (TSXV:ESPN). This INNSpired article provides information that was sourced by the Investing News Network (INN) and approved by Merida Mineralsin order to help investors learn more about the company. Merida Minerals is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.

This INNSpired article was written according to INN editorial standards to educate investors.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Merida Minerals and seek advice from a qualified investment advisor.

Trevali Mining Corporation ("Trevali" or the "Company") (TSX: TV) (BVL: TV) (OTCQX: TREVF) ( Frankfurt : 4TI) is saddened to report that search team members have discovered the bodies of the remaining two workers unaccounted for following an April 16 flooding event at the Perkoa Mine in Burkina Faso .

The two workers were discovered following dewatering, the first on June 8 at the 640 Level and the second on June 19 in the decline leading to the 670 Level. Six workers were previously recovered by search teams late last month. All eight workers unaccounted for after the flooding event have now been recovered.

"This is a profoundly sad day for the families, friends, and colleagues of the eight workers who lost their lives. All of us at Trevali grieve the loss and offer our deepest condolences to our colleagues' families and friends during this difficult time," said Ricus Grimbeek, President and CEO.

Families are being notified following recovery and identification. Senior representatives of Trevali and the Perkoa Mine mining contractor Byrnecut have been in regular contact with the families of all eight workers and will continue to offer support. Out of respect for privacy of the workers' families and friends, the Company will not be publicly disclosing the names of the workers.

The Company is working alongside the Burkinabe authorities as the Trevali operations team coordinates the dewatering and rehabilitation of the Perkoa Mine.

"Trevali expresses its deep appreciation for the tireless efforts and support in the search and rescue operation from the Burkinabe authorities and from the mining community in Burkina Faso ," said Grimbeek.

The Company and the Burkinabe authorities are investigating the events around the flooding event. Mining and milling operations at Perkoa will remain suspended for the foreseeable future and the Company has suspended its production and cost guidance for 2022 as it relates to Perkoa. To date, 137 million litres of water has been removed from the mine as well as almost 4,500 metres of mine rehabilitation completed on the ramp decline, and removal of 5,860 cubic metres of solids. Dewatering and rehabilitation work will continue to the mine depth of the 710 Level and the Company will provide further updates as appropriate.

Trevali is a global base-metals mining Company headquartered in Vancouver, Canada . The bulk of Trevali's revenue is generated from zinc and lead concentrate production at its three operational assets: the 90%-owned Perkoa Mine in Burkina Faso , the 90%-owned Rosh Pinah Mine in Namibia , and the wholly owned Caribou Mine in northern New Brunswick, Canada . In addition, Trevali owns the Halfmile and Stratmat Properties and the Restigouche Deposit in New Brunswick, Canada . Trevali also owns an effective 44% interest in the Gergarub Project in Namibia . The Company's growth strategy is focused on the exploration, development, operation, and optimization of properties within its portfolio, as well as other mineral assets it may acquire that fit its strategic criteria. Trevali's vision is to be a responsible, top-tier operator of long-life, low-cost mines in stable pro-mining jurisdictions. Trevali is committed to socially responsible mining, working safely, ethically, and with integrity. Integrating responsible practices into its management systems, standards, and decision-making processes is essential to ensuring everyone and every community's long-term sustainability.

The shares of Trevali are listed on the TSX (symbol TV), the OTCQX (symbol TREVF), the Lima Stock Exchange (symbol TV), and the Frankfurt Exchange (symbol 4TI). For further details on Trevali, readers are referred to the Company's website ( www.trevali.com ) and to Canadian regulatory filings on SEDAR at www.sedar.com .

This news release contains "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"). Forward-looking statements are based on the beliefs, expectations and opinions of management of the Company as of the date the statement are published, and the Company assumes no obligation to update any forward-looking statement, except as required by law. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects", "outlook", "guidance", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. Forward-looking statements relate to future events or future performance and reflect management's expectations or beliefs regarding future events including, but not limited to, statements with respect to the suspension of mining and milling operations at Perkoa, the recovery efforts at Perkoa, including the Company's plans with respect thereto, the efficacy of the Company's pumping, decline ramp rehabilitation and de-watering activities and  its efforts to restore electrical power and communications at the lower levels of Perkoa, the Company's ability to effectively dewater the mine and restore access to the lower levels of Perkoa, the results of any investigation of the flooding incident, and the Company's assessment of the effect of the flooding on the safety and structural integrity of Perkoa's underground areas. By their very nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to the Company's search efforts and plans to remedy the impact of the flooding at the Perkoa Mine, including that such efforts and plans will not be effective or achieve their desired outcomes; dependence on key personnel; labour pool constraints; labour disputes; increased operating and capital costs; foreign currency exchange rate fluctuations; operating in foreign jurisdictions with risk of changes to governmental regulation; compliance with governmental regulations; compliance with environmental laws and regulations; maintaining ongoing social license to operate; impact of climatic conditions on the Company's mining operations; limitations inherent in our insurance coverage; litigation; and other risks of the mining industry including, without limitation, other risks and uncertainties that are more fully described in the Company's annual information form, interim and annual audited consolidated financial statements and management's discussion and analysis of those statements, all of which are filed and available for review under the Company's profile on SEDAR at www.sedar.com . Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Trevali provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events may differ from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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